Storey County Taxable Sales Drop 47%

Last week I donated a couple hundred bucks to the Hayek Group to help them work to improve High School student financial literacy in Northern Nevada while playing golf at Arrow Creek. After the round we had dinner and one of my table-mates told me he was considering moving to Storey County. He had heard we’re ending property taxes and will start writing annual profit-sharing checks to the county residents in the coming months.

I nearly broke a rib laughing.

He must have been listening to Brothel owner, TRIC Executive and Storey County Commissioner Lance Gilman. Last week Mr Gilman met with Lockwood and River Bend residents to once again espouse the abundant wealth that TRIC is bestowing upon Storey County residents today, tomorrow and forever.

“I believe that the money is here to do a revenue sharing with the residents of this county. I believe there is going to be so much money in the short come that they (Storey County officials) absolutely need to get something in place today,” explained Gilman.

Here is the audio clip of Mr Gilman telling us he would like to get a program in place similar to the one in Alaska where the citizens of the state get cash from the Oil Pipeline deal.

This celebratory cheer is reinforced by the numbers coming from the Nevada Department of Taxation. The numbers from FY 2016-2017 are impressive. The report can be seen here and shows 1.6 billion in taxable sales, reflecting a stunning 568.5% increase in taxable sales over FY 2015-2016.

We would like to calmly suggest that, in spite of demands of redistributing this wealth by Mr Gilman and his fellow Commissioner and meat puppet Jack McGuffey, the atmospheric river of cash gushing down C Street may be drying up just a tad.

Numbers from August reflect a slowing of the pace at TRIC:

August 2016 Sales $179,975,685

August 2017 Sales $95,350,420

% change -47.0%

Is this slowdown permanent?

While this change may be temporary, it may not. According to Mr Gilman, of the roughly 110,000 acres at TRIC, only a couple of thousand remain vacant. This means the building that happened in the past years will probably be over in the next few years. Once the buildings are built, very few taxable transactions will occur in the land of the TRICsters because these TRIC businesses do not generate any over the counter sales. As such, there will be virtually zero recurring revenues for you, gentle reader.

So before the well runs dry, here at The Teller, we think it might be smarter to pay down our credit cards (and cut them up) rather than thinking about how we are going to redistribute and spend tomorrow’s cash.

Put another way, let’s start behaving like the fiscally conservative folks we claim to be rather than behaving like the Nancy Pelosi Californians who those on “Team Storey” accuse us here at The Teller of being.

To get your own helping of the Ice Cream and Lollypops Lockwood residents enjoyed and to hear how Lance Gilman and TRIC saved the world, listen to the entire meeting here:

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Storey County's May 2018 Taxable Sales came in at $ 95,570,577 compared with $ 145,673,690 from May, 2017; a difference of $ 50,103,113. The May numbers represent the fourth consecutive month that taxable sales have been less than previous years sales.